US stocks ended little changed on Wednesday as investors weighed the impact of two conflicting sets of jobs data and a report that President-elect Donald Trump was considering a national economic emergency declaration on inflation. The minutes of the Federal Reserve’s Dec. 17-18 meeting showed officials saw a rising risk that price pressures may remain sticky.
Benchmark 10-year yields peaked at 4.73%, but retreated to 4.677% later in the afternoon. Investors were concerned about potential surcharges on US trade partners and the impact of Trump’s policies, including mass deportations and tariffs, on inflation.
The Dow Jones Industrial Average rose 106.84 points, or 0.25%, to 42,635.20, while the S&P 500 gained 9.20 points, or 0.16%, to 5,918.23. The Nasdaq Composite lost 10.80 points, or 0.06%, to 19,478.88.
A report from ADP showed private payrolls growth slowed sharply in December, while the Labor Department reported a decrease in jobless claims for the previous week. Investors will be watching the government’s employment report for December on Friday.
Quantum-computing stocks fell as Nvidia CEO Jensen Huang said computers based on the emerging technology are 30 years away. Markets will be closed on Thursday for a national day of mourning to mark the death of former President Jimmy Carter.
Source: https://www.reuters.com/markets/us/futures-edge-up-after-wall-st-selloff-economic-data-awaited-2025-01-08